An economy has two workers, Jen and Rich. Every day they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. To maximize total output, Jen should specialize in producing ________ while Rich should specialize in producing ________.
A. TVs; radios
B. radios; TVs
C. TVs; TVs
D. radios; both goods
Answer: B
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Use the following table to answer the next question.YearAltaZornAltaZorn?(Real GDP)(Real GDP)(Population)(Population)1$2,000$150,00020050022,100152,00020250532,200154,000210508Between years 1 and 2, real GDP per capita grew by approximately ________ percent in Alta.
A. 3 B. 10 C. 5 D. 4
The federal budget was in deficit from 1931 to 1939, except in the year 1937. Given this fact, how do you explain E
Cary Brown's statement, "Fiscal policy, then, seems to have been an unsuccessful recovery device in the 'thirties-not because it did not work, but because it was not tried."
The major difference between stocks and bonds is
A. a stock is ownership in the corporation and a bond is a debt instrument of the corporation. B. a stock is a debt instrument of the corporation and a bond is ownership in the corporation. C. a stock has value in the marketplace and a bond does not. D. a bond has value in the marketplace and a stock does not.
One likely result of monopoly power is
a. a wide variety of substitute products from which consumers can choose b. an elimination of barriers to industry entry c. a decline in government regulation d. a higher price than would exist in a competitive industry e. an improvement in allocative efficiency